A widely followed crypto analyst says two rising altcoins are still in the early stages of their bull runs and predicts further rallies for them.
In a new video update, pseudonymous crypto analyst The Flow Horse say that decentralized oracle provider Chainlink (LINK) and smart contract platform Solana (SOL) have only just begun their upward trend.
According to the trader, those who think they missed their chance to invest in LINK are wrong.
“[People are] worried about buying LINK… because they feel like they missed out. I think between $11.00 and $8.50 will look like a rounding error if we’re talking about a year or two years into the future as the crypto market continues to grow.”
LINK is trading at $12.56 at the time of writing.
Further to Solana, the crypto trader says the Ethereum (ETH) rival could reasonably double in price.
“You have Solana, which talks about itself as a competitor to ETH or as dethroning ETH. If you look at Solana, it’s 30 times less than ETH’s market cap, so even if that gap closes a little bit, we’re looking at Solana doubling from here, which is reasonable without any kind of major changes in the market .”
Solana is trading at $41.31 at the time of writing, down fractionally on the day but up a staggering 300% since the start of 2023.
Looking at the king crypto, The Flow Horse says that Bitcoin’s (BTC) current breakout is similar to 2021’s and that the top crypto asset by market cap could be in the region of $40,000.
“If you look at BTC, it is way above the low… We have changed and broken through this level [$32,000]. We’re still relatively close to that level, so I think we’re looking at $40,000, and if you can get in between here and $31,000, I think you’re in for a golden move.
I don’t think you should rush this. It’s kind of like when we had this outbreak [in 2021]. It’s kind of a version of what happens in the future [then]but the idea was that there were a lot of people with the feeling of maybe [that breakout] was even too late and I just think that’s clearly not going to be the case.”
BTC is trading at $35,196 at the time of writing.
I
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Tithi Luadthong
